Sun Communities, Inc. (NYSE:SUI) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,739 shares of the real estate investment trust’s stock after selling 10,235 shares during the period. Nisa Investment Advisors LLC’s holdings in Sun Communities were worth $4,732,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Centersquare Investment Management LLC raised its position in shares of Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after buying an additional 96,529 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Sun Communities by 8.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock valued at $18,414,000 after purchasing an additional 11,195 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Sun Communities during the 2nd quarter worth about $13,164,000. SG Americas Securities LLC increased its position in Sun Communities by 145.0% during the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock worth $2,646,000 after purchasing an additional 12,177 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Sun Communities in the first quarter valued at approximately $1,106,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 0.2 %

Shares of NYSE:SUI opened at $132.68 on Friday. Sun Communities, Inc. has a 12-month low of $108.87 and a 12-month high of $147.83. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market cap of $16.54 billion, a PE ratio of 114.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. The company has a fifty day simple moving average of $135.84 and a 200 day simple moving average of $126.36.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.83%. Sun Communities’s payout ratio is 324.14%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SUI shares. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Robert W. Baird increased their price target on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Jefferies Financial Group started coverage on Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 price objective on the stock. Truist Financial upped their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Finally, UBS Group upgraded Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Sun Communities has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Sun Communities Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.